Prime Minister Benjamin Netanyahu is introducing across-the-board budget cuts. This includes the reduction of water costs, the reduction of public transportation prices and the cancellation of the latest tax hike on gasoline. Furthermore, the minimum monthly wages will be raised by NIS 450 ($122).
As for the gas price in Israel, it will be slashed 23 Agurot per liter setting the price at 7.02 NIS per liter. The reason why the increase on January, 1st, was a good idea was that it made room in the economy for the electric car industry, which will see Israeli ingenuity celebrated worldwide in the coming months. However, Netanyahu and Finance Minister, Yuval Steinitz, folded under public criticism.
Meanwhile, opposition leader Tzipi Livni of Kadima said:
“The budget cut is political cowardice and represents a lack of priorities.”
Adding that the lower classes are the ones who will be hurt by the move.
Knesset Member, Shlomo Molla, of Kadima said the Prime Minister
“has once again been exposed as a spineless man and a tireless zigzagger. There is no trust in this plundering governmentâ€¦Today they are lowering (taxes); tomorrow they’ll raise them. Netanyahu is entirely immersed in his political survival. This is why he must resign immediatelyâ€¦”